« previous next »

Author Question: Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive ... (Read 76 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
Which of the following is ALWAYS true regarding a profit maximizing monopolistically competitive firm in short-run equilibrium?
 
  A) P = ATC.
  B) P = MR.
  C) MR = MC.
  D) MC = ATC.

Question 2

The ABC Nail Company has entered into a collusive agreement with the other firm in the industry, the DC Nail Company. What occurs in the nail industry if ABC decides to cheat on the agreement?
 
  A) ABC lowers the price of its nails.
  B) The total industry output increases.
  C) The total profits in the nail industry will decrease.
  D) All of the above answers are correct.


ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

future617RT

  • Hero Member
  • *****
  • Posts: 543
Reply #2 on: Jun 29, 2018
Thank you


ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

competitive inhibition competitive inhibition
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
Competitive drug enzyme immunoassay. Competitive drug enzyme immunoassay.
Project Management: Achieving Competitive Advantage, 5th Edition Project Management: Achieving Competitive Advantage, 5th Edition
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Carbohydrate digestion (brush border enzymes, end products) & Carb absorption (fructose, galactose)

For a complete list of videos, visit our video library